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UK and EU mandatory environmental reporting—which entities are caught?—checklist

UK and EU mandatory environmental reporting—which entities are caught?—checklist This Checklist summarises which companies and limited liability partnerships (LLPs) are subject to the principal UK and EU mandatory environmental reporting requirements. It provides a high level summary of, and includes links to the sources for, the relevant reporting requirements. For a more detailed summary of the relevant mandatory reporting requirements, see Practice Notes: CSR, ESG and human rights reporting and initiatives and EU mandatory corporate sustainability reporting. For a summary of the voluntary reporting requirements to which many companies and LLPs choose to adhere, see Practice Notes: TCFD recommendations and other ESG reporting frameworks, standards and benchmarks and Investor group guidance on environmental, social and governance (ESG) issues. UK requirements Requirement Scope Source Strategic report to contain description of principal risks and uncertainties. All companies (other than micro and small companies).Traded LLPs and banking LLPs. Companies Act 2006 (CA 2006), CA 2006, s 414C(2)(b)Applied to traded LLPs and banking LLPs by Limited Liability Partnerships (Accounts and Audit) (Application of Companies...

Eligibility requirements—premium listing, standard listing, High Growth segment and AIM—prior to 29 July 2024

Eligibility requirements—premium listing, standard listing, High Growth segment and AIM—prior to 29 July 2024 A significant restructuring of the UK listing regime came into effect on 29 July 2024 which included the removal of the premium and standard listing segments and the creation of a single listing category for equity shares in commercial companies. The commercial companies category is heavily disclosure-based and sits alongside other listing categories such as the shell companies, secondary listing and closed ended investment fund categories.  The UK Listing Rules sourcebook came into force to implement the changes and the Listing Rules sourcebook was revoked. In addition, the London Stock Exchange closed the High Growth segment. For further information see Practice Note: Reform of the UK listing regime—fundamentals. This checklist reflects the listing regime prior to 29 July 2024 and has been retained for reference purposes. This checklist compares the eligibility requirements for a former premium listing, a former standard listing, an admission to the former High Growth Segment of the Main Market and admission to trading...

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Retained EU law—flowchart [Archived]

Retained EU law—flowchart [Archived] ARCHIVED: This Flowchart has been archived and is not maintained. Retained EU law is a concept introduced by the European Union (Withdrawal) Act 2018 (EU(W)A 2018) in preparation for Brexit, creating a brand new category of domestic law. It is the collective term given to the body of EU-derived laws preserved and converted into domestic law under EU(W)A 2018 (as amended) at the end of the post-Brexit transition period (IP completion day). For background reading on the transition period, and what it means for retained EU law, see: In the context of Brexit, what is meant by the ‘transition or implementation period’? For further background reading the underlying legislation, see: • Practice Note: Brexit—key legislation explained • News Analysis: What does IP completion day mean for the status of EU law in the UK? What is retained EU law? Retained EU law is a complex and wide-ranging legal term, defined under EU(W)A 2018, as anything which continues to form part of domestic law on or after...

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Preparing a company for listing on the Official List and admission to trading on the Main Market

This Practice Note examines the key steps and issues that a UK incorporated commercial company will need to take and consider prior to making an application for the initial admission of its equity shares to the equity shares (commercial companies) listing category of the Official List of the Financial Conduct Authority (FCA) and to trading on the main market for listed securities of the London Stock Exchange plc (LSE) (Main Market) (initial public offer or IPO).Initial considerationsFrom decision to completion the IPO process (including any pre-IPO preparation) takes approximately three to four months to complete (on a straightforward IPO) but may take longer, ie up to six months, depending on the company's circumstances, the structure of the proposed IPO, issues arising out of due diligence, changing market conditions and the nature of fundraising, eg whether the IPO is being underwritten by a group of investment banks that use book building techniques to effect an underwriting of the offer, etc.The IPO process will involve a considerable amount of management time and,...

Requirements for listing on the Official List of the Financial Conduct Authority—equity shares (commercial companies) category

This Practice Note focuses on the listing requirements for the equity shares (commercial companies) listing category of the Official List of the Financial Conduct authority (FCA). It details the general listing requirements for all securities and the additional requirements for the commercial companies category as set out in the UK Listing Rules (UKLR).Structure of the UK listing regimeThe UK listing regime has 11 listing categories suited to different types of issuer and the types of securities being admitted to listing. An issuer must comply with the rules in the UK Listing Rules (UKLR) that are applicable to the category in which it is listing. The listing categories are as follows:•equity shares (commercial companies)•equity shares (international commercial companies secondary listing)•equity shares (shell companies)•equity shares (transition) — this category is closed to new applicants•closed-ended investment funds•open-ended investment companies•certificates representing certain securities•non-equity shares and non-voting equity shares•debt and debt-like securities•securitised derivatives•warrants, options and other miscellaneous securitiesFor further details of the eligibility requirements for a company applying to the commercial companies category and a...

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Memorandum on the responsibilities and obligations of a director of an AIM company

Memorandum on the responsibilities and obligations of a director of an AIM company 1 Introduction 1.1 This memorandum has been prepared for the directors and proposed directors (the Directors) of the Company to provide a general introduction to the principal responsibilities and obligations of a director of a company whose shares are admitted, or will be admitted, to AIM, a market operated by London Stock Exchange plc (LSE). 1.2 Once a company’s securities are admitted to trading on AIM, a company and its directors are subject to an increased layer of regulation. This includes requirements set out in the AIM Rules for Companies published by the LSE (AIM Rules), the Disclosure Guidance and Transparency Rules sourcebook (DTRs), the Prospectus Rules and the Market Abuse Regulation. 1.3 As a Director, you will be responsible (individually and collectively with your fellow Directors) for the Company's compliance with these provisions. The LSE has the power to fine or publicly censure an AIM company in the case of a...

EMI share option scheme rules

EMI share option scheme rules Rules of the [insert name of company granting EMI options] enterprise management incentives Scheme 1 Definitions and interpretation 1.1 Definitions In this Scheme, except where the context otherwise requires, the words and expressions set out below will bear the following meanings, namely: Acquiring Company • has the meaning ascribed to it in paragraph 39 of Schedule 5; Agreement • means the agreement entered into by an Eligible Employee, the Company and, where different, the person which grants an Option, in such form as the Directors will from time to time determine; Closed Period • means a period when the Directors are prohibited from dealing in shares under the Market Abuse Regulation (Assimilated Regulation (EU) 596/2014) or any other regulation, act, guidance or code on transactions in securities which applies to the Company, including any share dealing code of the Company; Company • [name of company granting options] (Company No [insert registered number]); Control • has the meaning ascribed to it in Schedule...

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What are the main requirements for a secondary listing on the main market of the London Stock Exchange?

What are the main requirements for a secondary listing on the main market of the London Stock Exchange? A secondary listing is only available to UK companies with at least 25% of their shares in public hands and where the aggregate market value of all securities (excluding treasury shares) to be listed is at least £700,000. Furthermore, companies applying for a secondary listing must comply, among other things, with the following requirements: • the relevant provisions of the Listing Rules, the Prospectus Rules and the Disclosure and Transparency Rules (DTRs) contained in the Financial Conduct Authority's Handbook and the London Stock Exchange's Admission and Disclosure Standards • preparation of a prospectus prior to listing on the

What Listing Rules requirements must be met by a company seeking to admit its shares to the Official List?

What Listing Rules requirements must be met by a company seeking to admit its shares to the Official List? Written in partnership with Richard Ufland (Partner, Hogan Lovells International LLP) and Charles Jemmett (Associate, Hogan Lovells International LLP). This Q&A considers what Listing rules requirements must be met by a company seeking to admit its shares to the Official List. A company seeking to admit its shares to the Official List must comply with certain requirements in the Listing Rules (LRs). Additionally, as shares can only be admitted to the Official List if they are also admitted to trading on a regulated market operated by a Recognised Investment Exchange (RIE), a company will also need to comply with the relevant requirements under the Prospectus Rules of the Financial Conduct Authority (FCA) and the Admission and Disclosure Standards of the London Stock Exchange (LSE) and Part VI of the Financial Services and Markets Act 2000 (FSMA 2000). This answer provides an overview of the relevant requirements under...

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FCA changes turnaround times for listing transactions over 2024 holiday period

The Financial Conduct Authority (FCA) has announced changes to its standard turnaround times for reviewing and processing listing transactions over the Christmas and New Year period, from 23 December 2024 to 2 January 2025, inclusive.

Corporate weekly highlights—12 September 2024

This week's edition of Corporate weekly highlights includes: analysis of the case of Lipton v BA City Flyer in which the Supreme Court provided guidance on how the courts will approach causes of action accrued under EU law prior to Brexit and details of the case of Manolete Partners Plc v Freed & others which involved claims for breach of directors’ duties, knowing receipt, transaction at an undervalue and preference. Also included is news of two thematic reviews published by the Financial Reporting Council into offsetting and IFRS 17 disclosures.

View the latest UK Parliament Acts documents on Official List

74 The official list

(1)     The [FCA] must maintain the official list.(2)     The [FCA] may admit to the official list such securities and other things as it considers appropriate.(3)     But—(a)     nothing may be admitted to the official list except in accordance with this Part; and(b)     the Treasury may by order provide that anything which falls within a description or category specified in the order may not be admitted to the official list.(4)     . . .(5)     In the following provisions of this Part—. . .“listing” means being included in the official list in accordance with this Part.

[103 Interpretation of this Part]

[(1)     In this Part, save where the context otherwise requires—. . .. . .“listed securities” means anything which has been admitted to the official list;“listing” has the meaning given in section 74(5);“listing particulars” has the meaning given in section 79(2);“listing rules” has the meaning given in section 73A;“market operator” means a person who manages or operates the business of a regulated market;“offer of transferable securities to the public” has the meaning given in section 102B;“the official list” means the list maintained by the [FCA] as that list has effect for